Stock market loses N438bn in one year

Stanley Opara

The Nigerian stock market (equity category) depreciated by N438bn between August 24, 2015 and August 24 this year.

The Nigerian Stock Exchange All-Share Index also slid from 29,214.13 basis points to 27,880.46 basis points within the same period.

Data compiled by our correspondent also showed that the volume of transactions, value of transactions and number of deals for 2015 were 257.73 million, N2.775bn and 4,247, respectively; while those for 2016 were 230.29 million, N2.955bn and 3,002, respectively.

Between January and March this year, the equities market depreciated by 10.79 per cent – as of the first day of trading this year (January 4), the NSE market capitalisation stood at N9.757tn, while the ASI was 28,370.32 basis points.

But on the last day of trading in March, the market capitalisation and the ASI crashed to N8.704tn and 25,306.22 basis points, respectively.

Equity investors had in the first seven trading days of the year lost N804bn of their investment value.

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